Bar/Restaurant with rental apartments
Passaic County, NJ
| Asking Price: | $1,750,000 |
| Inventory: | $28,000 |
| Real Estate: | $1,000,000 |
| Gross Revenue: | $905,200 |
| FF&E: | $128,311 |
Listing ID: 2309739Listing provided by BizBuySell
BUSINESS DESCRIPTION
Thriving business with room for growth
Thriving Bar/Restaurant with 99 person capacity + 3 rental apartments above. Sale includes the property, the restaurant with all its equipment, and the plenary retail consumption license for alcoholic beverages (33). The enclosed porch has been newly decorated with tables and chairs. The business is currently open open only 5 Days a week, except during football season, and only for dinner. Great potential for growth with 6 day operation and adding lunch hours. Additional income from 3 apartments, recently updated with renovated bathrooms, kitchens and and interiors. Gross Revenue breakdown is $820,000 from restaurant, $85,200 from apartment rentals
DETAILED INFORMATION
Location
Passaic County, NJ
Inventory
Not Included in asking price
Real Estate
Owned
Included in asking price
Building SF
3,960
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
Type 33 liquor license, 2 Fryers,Fryer fridge station, Six burner stove, Salamander, Grill, Grill fridge, Salad fridge station, Prep fridge station, 2 Chest refrigerators, 3 bar coolers, Kitchen ansul system, Exhaust hood and duct system, Heat lamp, Large 8’ x 16’ walk-in cooler, Custom-built Bar w/ 27 taps, 60 dining chairs, 23 taller chairs, 3 baby seats, 19 dining tables (5 two tops, 14 four tops), 10 TV screens and a CCTV camera, New commercial heating boiler.
Competition
Highly trafficked street location. High population in the area = high demand for places to eat, drink, and socialize.
Growth & Expansion
Great potential for growth by expanding from 5 to 6 or 7 day a week operation and by opening for lunch in addition to dinner.
Support & Training
As needed
Reason for Selling
retirement
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